I’ve been asked this question more times than I can remember. In most cases I have to answer that it’s very likely that your idea does already exist especially if it addresses a real need in the marketplace but that shouldn’t stop you from pursuing it.
I found the best answer to this question that I have seen in a very long time, it may be the best answer I’ve ever seen. It was written by Carlos Del Carpio as the answer on Quora. I haven’t change a thing.
“The founder of Dropbox was pitching in front of an investor one day, and the investor asked him: "there are similar companies out there doing the same as dropbox, why should I invest in just another similar company?"
His reply: "Yes. There are similar companies out there doing the same as dropbox. But do you use any of them?"
"No."
"Why?"
"Because they are bad."
"Ok. That's what Dropbox wants to solve."
So bottomline: Ask your potential customers.
Any business idea is a solution to someone's problem out there. Ask them if they are solving it, how they are solving it, and if they would be willing to pay to have it solved.”
That’s the answer to the question.
I found the best answer to this question that I have seen in a very long time, it may be the best answer I’ve ever seen. It was written by Carlos Del Carpio as the answer on Quora. I haven’t change a thing.
“The founder of Dropbox was pitching in front of an investor one day, and the investor asked him: "there are similar companies out there doing the same as dropbox, why should I invest in just another similar company?"
His reply: "Yes. There are similar companies out there doing the same as dropbox. But do you use any of them?"
"No."
"Why?"
"Because they are bad."
"Ok. That's what Dropbox wants to solve."
So bottomline: Ask your potential customers.
Any business idea is a solution to someone's problem out there. Ask them if they are solving it, how they are solving it, and if they would be willing to pay to have it solved.”
That’s the answer to the question.
